West African Resources Limited
ACN 121 539 375
Principal Office:
Unit 14, 531 Hay Street
Subiaco WA 6008
Western Australia
Phone:
Fax:
Email:
Web:
+ 61 8 9481 7344
+ 61 8 9481 7355
[email protected]
www.westafricanresources.com
ASX ANNOUNCEMENT
Friday 27
t h
September 2013
Thick High-Grade Zones at Sartenga Copper-Gold Discovery
SDH038: 33m at 1.3 % Cueq* (0.8g/t Au, 0.5% Cu, 283g/t Mo, 2g/t Ag)
Further diamond drilling at Sartenga copper-gold discovery:
SDH038: 89m at 0.7g/t Au, 0.4% Cu, 132g/t Mo & 1.4g/t Ag from 11m
including 38m at 0.8g/t Au, 0.3% Cu, 47g/t Mo & 1.2g/t Ag in oxide
33m at 1.3 % Cueq* (0.8g/t Au, 0.5% Cu, 283g/t Mo, 2g/t Ag) from 63m in primary
Result shows mineralisation on Section SW0100 is at least 120m
wide at 0.8%Cueq* with grades up to 1.5% Cueq*,and open at depth
Deep diamond drilling ongoing with two Company-owned rigs
Resource upgrade by end of 2013
Managing Director Richard Hyde said: “We are very pleased to report further diamond drilling
results from the higher grade portion of the Sartenga deposit. SDH038 drilled through both
oxide and primary zones returning 38m at 0.8g/t Au and 0.3% Cu in oxide and 33m at 1.3 %
Cueq* primary mineralisation, within a wider zone of 89m grading 0.7g/t Au and 0.4% Cu
from 11m down hole.
“Ongoing definition drilling of the higher grade breccia zone along the south-eastern margin
of the deposit continues to return significant results. We have two Company-owned
diamond rigs in operation at Sartenga and expect to upgrade the resource both in tonnage
and grade by the end of the year.”
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West African Resources Limited
West African Resources Limited (ASX: WAF) is pleased to report assay results from diamond drilling at its
100%-owned Sartenga copper-gold discovery, part of the Boulsa Project, in Burkina Faso.
Diamond drilling with Company-owned rigs is continuing at Sartenga focussing on defining higher grade
breccia zone along the south-eastern margin of the deposit, including strong copper, gold and
molybdenum grades. Results intercepted at depth on SW0100 from SDH038 include:
-
89m at 0.7g/t Au, 0.4% Cu, 132g/t Mo, 1.4g/t Ag) from 11m in oxide and primary including:
38m at 0.8g/t Au, 0.3% Cu, 47g/t Mo, 1.2g/t Ag from 11m in oxide
33m at 1.3% Cueq*(0.8g/t Au, 0.5% Cu, 283g/t Mo, 2g/t Ag) from 63m in primary
-
24m at 0.6% Cueq*(0.2g/t Au, 0.2% Cu, 392g/t Mo, 0.5g/t Ag) from 114m including in primary:
10m at 0.9% Cueq*(0.3g/t Au, 0.3% Cu, 682g/t Mo, 0.9g/t Ag) from 114m
1m at 1.5% Cueq*(0.8g/t Au, 0.3% Cu, 1040g/t Mo, 0.7g/t Ag) from 137m
Figure 1: Sartenga Discovery – Exploration Summary
The Sartenga Copper-Gold Project has:
174,000t copper, 651,000oz gold in Inferred Mineral Resource
High flotation recoveries of 95% for copper and gold in primary material
Bornite dominant sulphide system; potential to create a high-grade copper-gold concentrate
Soft primary ore (BBMWI 10kwh/t) translating into lower potential milling costs
Favourable mineralisation geometry; low indicative stripping ratio
Higher grade zone in the core of the deposit of at least 800 metres in length
Infrastructure nearby including rail to port less than 40 km from the project
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West African Resources Limited
The Company currently has two rigs on site which will drill throughout the entire wet season, testing
mineralisation extensions along strike and at depth. Results for further deep diamond core are
imminent and will be reported as soon as they are received and interpreted by the Company.
Hole
SDH038
incl.
and
SDH038
including
SDH038
SDH039
SDH039
SDH039
SDH039
From
11
11
63
114
114
148
207
223
235
239
To
100
49
96
138
124
152
214
224
236
240
Int
89
38
33
24
10
4
7
1
1
1
Cueq* %
1.3
0.6
0.9
0.6
0.5
0.6
0.8
0.9
Au g/t
0.7
0.8
0.8
0.2
0.3
0.3
0.2
0.1
0.3
0.3
Cu %
0.4
0.3
0.5
0.2
0.3
0.1
0.3
0.4
0.4
0.3
Table 1
Significant Results
Diamond Drilling
Mo g/t Ag g/t
North
132
1.4
1408978
47
1.2
283
2.0
392
0.5
682
0.9
525
0.2
133
0.8
1409367
229
0.7
311
1.3
696
0.9
East
742128
RL
349
Dip
-60
Azi
135
TDepth
155
Section
SW0100
742148
372
-60
135
243
NE0200
About West African Resources and the Boulsa Gold Project
The Boulsa Project in Burkina Faso covers 6,370km² and 200km of strike length of early Proterozoic Birimian greenstone belts
which are highly prospective for gold mineralisation. Significant results have already been returned from the project, which is
located immediately along strike from Orezone Gold Corp’s 5.2Moz Au Bomboré Deposit. West African has made a major AuCu-Mo discovery at the Sartenga Discovery in 2012.
West African Resources Ltd is focused on cost-effective copper-gold exploration, by keeping our administration and corporate
costs to a minimum and exploring as expeditiously as possible. We own and operate a fleet of seven drill rigs which are
working continuously on the Boulsa Gold Project. Our drill fleet includes three auger rigs, one RAB rig and two multi-purpose
RC-diamond rigs and one dedicated diamond rig. In Burkina Faso we have a local exploration, drilling and support team of
more than 50 people. West African Resources is committed to the training and development of our local workforce.
West African will keep the market informed as results are received.
Further information is available at www.westafricanresources.com
For further information contact:
Richard Hyde
Nathan Ryan
Managing Director
Investor Relations
Ph: 0413 874 740
Ph: 0420 582 887
Email: [email protected]
Competent Person’s Statement
Information in this announcement that relates to exploration results is based on information compiled by Mr Richard Hyde, a
Director, who is a Member of The Australian Institute of Mining and Metallurgy. Mr Hyde has sufficient experience which is
relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to
qualify as a Competent Person as defined in the 2004 Edition of the Australasian Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves (the JORC Code). Mr Hyde consents to the inclusion in this announcement of the
statements based on his information in the form and context in which they appear.
The information in this announcement that relates to Mineral Resources for the Sartenga Project is based on information
compiled by Mr Don Maclean. Mr Don Maclean is a consultant of Ravensgate Mineral Industry Consultants, an independent
consultancy group specialising in mineral resource estimation, evaluation and exploration. Mr Don Maclean is a Member of the
Australian Institute of Geoscientists. He has sufficient experience which is relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004
Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Don Maclean
consents to the inclusion in this report of the matters based on information in the form and context in which it appears.
Statements regarding West African Resources’ plans with respect to its mineral properties are forward-looking statements.
There can be no assurance that West African Resources’ plans for development of its mineral properties will proceed as
currently expected. There can also be no assurance that West African Resources’ will be able to confirm the presence of
additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on
any of West African Resources’ mineral properties.
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West African Resources Limited
Notes on assaying and compositing
Drill holes have been assayed using the Fire Assay method (40g) for Au with ICP OES finish, and by ‘Mixed Acid Digest’ ICP OES
method for Cu, and ICP MS for Mo, Ag and Re at Bureau Veritas Laboratories in Perth. All results for aircore drilling are based
on 4m riffle-split composites, and RC and diamond results are based on representative 1m samples, at 0.3% Cueq*, 0.5%
Cueq*,0.7% Cueq* and 1.0% Cueq* lower cut offs, and not more than 8m of internal dilution, unless otherwise stated. For
oxide intercepts, Cueq* has only been used as a guide for compositing results. All results are reported as down hole intercepts,
true widths are yet to be determined. WAF employs strict QAQC protocols, including regularly inserting blank, field duplicate
and reference material into the sample sequence. For the data contained in this release, all QAQC results have reported within
acceptable limits for the assay methods used.
Copper Equivalent Calculations (CuEq*)
The copper equivalent calculation represents total metal value for each metal, summed and expressed in equivalent percent
copper. No assumptions have been made for potential metal recoveries. It is the Company’s opinion that metals considered
here have a reasonable potential to be recovered as evidenced in similar Au-Cu-Mo-Ag related mineralisation elsewhere in the
World. Preliminary metallurgical test work, while not definitive, has returned high recoveries for transitional and sulphide
material (>90%) for copper and gold, other contributing metals (Mo, Ag) are expected to yield recoveries in a similar range. In
oxide preliminary test work indicates >90% recovery for gold. The Company is investigating the potential to recover copper
from oxide material, and for the moment has excluded from reporting any contained equivalent copper metal equivalent metal
tonnages in oxide. Based on these assumptions it is West African’s opinion that copper equivalent values are appropriate to use
to assist in reporting exploration results and in the resource modelling and reporting of the Sartenga deposit.
Copper equivalent conversion factors and long-term price assumptions used are as follows:
Copper equivalent formula = Cu % + Au g/t x 0.70 + Mo g/t x 0.0006 + Ag x0.016
Price Assumptions: Au (US$1300/oz) Cu (US$2.70/lb) Mo (US$15/lb) Ag (US$30/oz)
Sartenga Mineral Resource
The Sartenga maiden Inferred Mineral Resource estimate contains 174,000 tonnes of copper, 651,000 ounces of gold, 11,000
tonnes of molybdenum and 2.5 million ounces of silver (Table 1). The maiden Inferred Mineral Resource, independently
calculated by Ravensgate Mineral Industry Resource Consultants (Ravensgate), comprises 70 million tonnes at 0.2% copper, 0.3
g/t gold, 166 g/t molybdenum and 1.1 g/t silver.
Zone
Oxide
Trans
Fresh
Total
Tonnes
(Mt)
13.5
4.0
52.8
70.4
Cu
%
0.3
0.3
0.2
0.2
Sartenga Inferred Mineral Resource - June 2013
(0.45% Copper Equivalent cut-off grade)
Grade
Contained Metal
Au
Mo
Ag
Copper
Gold
Molybdenum
g/t
g/t
g/t
(Kt)
(Koz)
(Kt)
0.3
87
1.1
44
112
1
0.4
65
1.0
11
48
0.3
194
1.1
119
491
10
0.3
166
1.1
174
651
11
Silver
(Koz)
470
124
1868
2,463
Copper Eq*
(Kt)
24
292
316
Page: 4
West African Resources Limited
Technical Terms
Ag
Aircore Drilling
Au
Auger Drilling
Cu
Diamond Drilling (DD)
g/t
ICP
Induced Polarisation
MAD
Mo
MS
OES
ppb
ppm
RAB Drilling
RC Drilling
Re
Rhenium
XRF
Chemical symbol for silver.
Reverse Circulation drilling method, using a blade bit. A drilling method in which the sample is
brought to the surface inside the drill rods using compressed air, reducing contamination.
Chemical symbol for gold.
A drilling method in which the sample is brought to the surface via a helical or spiral rods.
Chemical symbol for copper.
A rotary drilling method with diamond impregnated bits to produce a solid, continuous core
sample of the rock.
grams per tonne.
Inductively Coupled Plasma (ICP)
Induced polarization (IP) is a geophysical imaging technique used to identify subsurface materials,
such as ore. An electric current is induced into the subsurface through two electrodes, and
voltage is monitored through two or more other electrodes.
Mixed acid digest including Hydrofluoric, Nitric, Hydrochloric and Perchloric Acids. This extended
digest approaches a total digest for many elements however some refractory minerals are not
completely attacked.
Chemical symbol for molybdenum.
Mass Spectrometry
Optical Emission Spectrometry
parts per billion, e.g. 1000 ppb Au equals 1 ppm Au, or 1 g/t Au.
parts per million, equivalent to g/t.
Rotary Air Blast drilling. A drilling method in which the sample is brought to the surface outside of
the drill rods using compressed air.
Reverse Circulation drilling. A drilling method in which the sample is brought to the surface inside
the drill rods using compressed air, reducing contamination.
Chemical symbol for Rhenium.
Rhenium is a rare metal that is highly resistant to heat and wear. Rhenium resembles manganese
chemically and is obtained as a by-product of molybdenum and copper ore.
X-ray fluorescence (XRF) is the emission of characteristic "secondary" (or fluorescent) X-rays from
a material that has been excited by bombarding with high-energy X-rays or gamma rays. The
phenomenon is widely used for chemical analysis.
Page: 5